Saturday, May 25, 2024
HomeBusinessNayara Energy to invest ₹600 crore to set up ethanol production plants 

Nayara Energy to invest ₹600 crore to set up ethanol production plants 


Nayara Energy has announced to invest ₹600 crore to set up ethanol plants in India to meet its sustainable goals.

“The company runs the largest private fuel network in the country and setting up ethanol plants will mark a significant step towards achieving downward integration within the energy sector,” it said in a statement.

In line with the Government of India’s Ethanol blending target of 2025, Nayara Energy plans to set up two ethanol manufacturing plants of 200 KLPD each in Andhra Pradesh and Madhya Pradesh. 

The company said it had already identified and purchased land in both the States for the proposed plants.

Alessandro des Dorides, Chief Executive Officer, Nayara Energy, said, “The establishment of ethanol facilities will significantly enhance our ethanol supply reliability, playing a crucial role in meeting the Indian government’s 20% blending target by the end of fiscal year 2025-2026.”

“This strategic move into ethanol manufacturing highlights our dedication to sustainability, regulatory compliance, and long-term growth in the dynamic energy sector. By expanding the presence in the ethanol segment, we aim to actively contribute to India’s renewable energy goals and fostering a greener future,” he added.



Source link

RELATED ARTICLES

Most Popular

Recent Comments